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%20LIMITED%20-%20503547%2012-Apr-2018_files/image015.jpg){kind=small}
%20LIMITED%20-%20503547%2012-Apr-2018_files/image016.jpg)
%20LIMITED%20-%20503547%2012-Apr-2018_files/image018.gif)
MIRA INFORM REPORT
|
Report No. : |
503547 |
|
Report Date : |
12.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
THOMAS COOK (INDIA) LIMITED (w.e.f.12.03.1979) |
|
|
|
|
Formerly Known
As : |
THOMAS COOK ( |
|
|
|
|
Registered
Office : |
Thomas Cook Building, Dr. D N Road, Fort, Mumbai – 400001, Maharashtra |
|
Tel. No.: |
91-22-42427000/
61603333 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.10.1978 |
|
|
|
|
Com. Reg. No.: |
11-020717 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 366.760
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L63040MH1978PLC020717 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0389032425 |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
27AAACT4050C1ZT |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4050C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in diversified Travel and Travel Related Businesses, working as Travel Agent and Tour Operator and also engaged as an Authorised Foreign Exchange Dealer. (Registered Activity) |
|
|
|
|
No. of Employees
: |
2285 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 33139000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Thomas Cook (India) Limited
(TCIL) is one of the largest integrated Travel and Travel related Financial
Services providers in India. TCIL is also India’s largest non-banking foreign
exchange dealer with an Authorized Dealer Category II licence from the Reserve Bank of
India (RBI).
Subject is an established company incorporated in the year 1978 having good track. For the financial year ended 2017, revenue of the company has declined which has further resulted into a loss during the year under a review. However, the company possesses sound financial risk profile marked by healthy net worth base along with negligible debt recorded by the company. Fundamentals of the company are strong and healthy. The rating also takes into consideration “Thomas Cook” established name in travel business. Share price are quoted high on stock exchange (Share price of INR 273 against Face value of INR 1) Trade relations are reported as fair. Business is active. Payments terms are seems to be regular and as per commitment. In view of long track record and strong brand image, the company can be considered normal for business dealings at usual trade terms and conditions |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Non-convertible debenture programme = (AA) |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
08.01.2018 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 12.04.2018.
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
LOCATIONS
|
Registered/ Head Office : |
Thomas Cook Building, Dr. D N Road, Fort, Mumbai – 400001,
Maharashtra, India |
|
Tel. No.: |
91-22-42427000/
61603333 |
|
Fax No.: |
91-22-61603333/
23022856/ 23022864 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Leisure Travel (outbound), Marathon Futurex Building, N.M. Joshi Marg,
11th and 13th Floor, A-Wing, Lower Parel, Mumbai –
400013, Maharashtra, India |
DIRECTORS
AS ON: 31.03.2017
|
Name : |
Mr. Madhavan Karunakara Menon |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 702, Supreme Pearl, 17th Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Date of Birth/Age : |
12.02.1955 |
|
Qualification : |
B.A. |
|
Date of Appointment : |
01.08.2011 |
|
DIN No.: |
00008542 |
|
|
|
|
Name : |
Mr. Pravir Kumar Vohra |
|
Designation : |
Director |
|
Address : |
E-602, Oberoi Splendor, J V Link Road, Opposite Majas Depot, Andheri (East) Mumbai-400060, Maharashtra, India |
|
Date of Appointment : |
10.04.2015 |
|
DIN No.: |
00082545 |
|
|
|
|
Name : |
Mr. Chandran Ponnaiah Ratnaswami |
|
Designation : |
Director |
|
Address : |
177, Mckee Avenue, Ontario, M2N4C6 Toronto M2N4C6 CA |
|
Date of Appointment : |
22.08.2012 |
|
DIN No.: |
00109215 |
|
|
|
|
Name : |
Mr. Kishori Jayendra Udeshi |
|
Designation : |
Director |
|
Address : |
15, Sumit Apartments, M.L. Dahanukar Marg, Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
25.01.2013 |
|
DIN No.: |
01344073 |
|
|
|
|
Name : |
Mrs. Harsha Raghavan |
|
Designation : |
Director |
|
Address : |
Flat No. 2, 1st Floor, Shree Sadan, M.L. Dahanukar Marg, Mumbai-400026, Maharashtra, India |
|
Date of Appointment : |
22.08.2012 |
|
DIN No.: |
01761512 |
|
|
|
|
Name : |
Mr. Sunil Behari Mathur |
|
Designation : |
Additional Director |
|
Address : |
Plot No. 10, A-10, Vasant Vihar, New Delhi-110057, India |
|
Date of Appointment : |
23.12.2015 |
|
DIN No.: |
00013239 |
|
|
|
|
Name : |
Mr. Nilesh Shivji Vikamsey |
|
Designation : |
Additional Director |
|
Address : |
184, Kalapataru Habitat, Tower-A, Dr. SS. Rao Road, Parel, Mumbai-400012, Maharashtra, India |
|
Date of Appointment : |
23.12.2015 |
|
DIN No.: |
00031213 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Chandran Iyer |
|
Designation : |
Chief executive officer |
|
Address : |
403, Balaji Heights, Plot No. 123, Sector 50E, Sea Nerul, Navi Mumbai -400706, Maharashtra, India |
|
Date of Appointment : |
14.02.2017 |
|
PAN No.: |
AACPI7788R |
|
|
|
|
Name : |
Mr. Amit Jyotindra Parekh |
|
Designation : |
Company Secretary & Compliance Officer |
|
Address : |
111/119, Nathuram Poddar Baug Building, 2 Dr. Babasaheb Jaykar Marg, Thakurdwar, Mumbai-400002, Maharashtra, India |
|
Date of Appointment : |
08.03.2016 |
|
PAN No.: |
AACPP4182G |
|
|
|
|
Name : |
Mr. Brijesh Sureshchandra Modi |
|
Designation : |
Chief Finance Officer |
|
Address : |
Building, Mistry Complex, Tarun Bharat Road, J. B. Nagar, Andheri (East) Mumbai - 400059, Maharashtra, India |
|
Date of Appointment : |
01.06.2017 |
|
PAN No.: |
AJHPM6727G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 31.12.2017
|
Names of Shareholders |
No. of fully paid
up equity shares held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957)As a % of (A+B+C2 |
|
(A) Promoter & Promoter Group |
248153725 |
67.61 |
|
(B) Public |
118886077 |
32.39 |
|
|
|
|
|
Total |
367039802 |
100.00 |
%20LIMITED%20-%20503547%2012-Apr-2018_files/image020.gif)
Statement showing
shareholding pattern of the Promoter and Promoter Group
|
Category of shareholder |
No. of fully paid up equity shares held |
Shareholding as a % of total no. of shares
(calculated as per SCRR, 1957)As a % of (A+B+C2) |
|
|
A1) Indian |
0.00 |
||
|
A2) Foreign |
0.00 |
||
|
Any Other
(specify) |
248153725 |
67.61 |
|
|
Fairbridge Capital
Mauritius Limited |
248153725 |
67.61 |
|
|
Sub Total A2 |
248153725 |
67.61 |
|
|
A=A1+A2 |
248153725 |
67.61 |
Statement showing
shareholding pattern of the Public shareholder
|
Category & Name of the Shareholders |
No. of fully paid up equity shares held |
Shareholding % calculated as per SCRR, 1957
As a % of (A+B+C2) |
|
|
|||
|
|||
|
|||
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
44785647 |
12.20 |
|
|
ICICI Prudential
Long term Equity Fund |
28257382 |
7.70 |
|
|
Birla Sun Life Trustee
Company Private Limited A/C Birla Sun Life |
16348012 |
4.45 |
|
|
Alternate
Investment Funds |
312605 |
0.09 |
|
|
Foreign Portfolio
Investors |
22609032 |
6.16 |
|
|
Kotak Mahindra
(International) Limited |
4331270 |
1.18 |
|
|
Financial
Institutions/ Banks |
179098 |
0.05 |
|
|
Insurance
Companies |
7166192 |
1.95 |
|
|
ICICI Prudential
Life Insurance Company Limited |
7166192 |
1.95 |
|
|
Sub Total B1 |
75052574 |
20.45 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3) Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 million |
31940946 |
8.70 |
|
|
Individual share
capital in excess of INR 0.200 million |
3332566 |
0.91 |
|
|
NBFCs registered
with RBI |
513182 |
0.14 |
|
|
Any Other
(specify) |
8046809 |
2.19 |
|
|
Bodies Corporate |
5781222 |
1.58 |
|
|
Clearing Members |
1692137 |
0.46 |
|
|
Limited Liability
Partnership -LLP |
221577 |
0.06 |
|
|
Trusts |
18401 |
0.01 |
|
|
Director or
Director's Relatives |
26118 |
0.01 |
|
|
IEPF SUSPENSE
ACCOUNT |
307354 |
0.08 |
|
|
Sub Total B3 |
43833503 |
11.94 |
|
|
B=B1+B2+B3 |
118886077 |
32.39 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in diversified Travel and Travel Related Businesses, working as Travel Agent and Tour Operator and also engaged as an Authorised Foreign Exchange Dealer. (Registered Activity) |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS: (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
|
||||||||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
2285 [Approximately] |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Axis Bank Limited ·
Bank of America ·
HDFC Bank Limited ·
ICICI Bank Limited ·
IDFC Bank Limited ·
Induslnd Bank Limited ·
Kotak Mahindra Bank Limited ·
RBL Bank ·
State Bank of India ·
Yes Bank |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiary Companies : |
· Travel Corporation (India) Limited · TC Visa Services (India) Limited * · Horizon Travel Holdings (Singapore) Private Limited* · Travel Circle International Ltd. (formerly known as Luxe Asia Travel (China) Limited)* · SOTC Travel Services Private Limited (SOTC) (Formerly known as 'Kuoni Travel (India) · Private Limited') · SITA Incoming (India) Private Limited @@ · SITA Holiday Resorts Private limited @@ · SITA Holidays (India) Private Limited @@ · SITA Destination Management Private Limited @@ · SITA Beach Resorts Private Limited @@ · SITA Travels and Tours Private Limited @@ · SOTC Travel Management Pvt. Ltd. (formerly known as Sita Travels & Tours Pvt. Ltd.) @@ · Distant Frontiers Tours Private Limited @@ · KAT Management Consulting (Shanghai) Co. Ltd. @@ · SITA World Travel Lanka (Pvt) Limited @@ · SITA World Travel (Nepal) Private Limited @@ · Sterling Holiday Resorts Limited (SHRL) (formerly known as "Thomas Cook Insurance · Services (India) Limited") · Sterling Holidays (Ooty) Limited ## · Sterling Holidays Resorts (Kodaikannal) Limited ## · Nature Trails Resorts Private Limited ## · Quess Corp Limited (Quess) · MFX Infotech Private Limited @ · Co-Achieve Solutions Private Limited @ · Aravon Services Private Limited (formerly known as “ARAMARK India Private Limited”)@ · Dependo Logistics Solutions Private Limited @ · Centreq Business Services Private Limited @ · Excelus Learning Solutions Private Limited @ · Inticore VJP Advance Systems Private Limited @ · Quess Corp(USA) Inc @ · Quessglobal (Malaysia) SDN.BHD (incorporated during the year) @ · Corntel Solutions Pte Limited · Quess (Philippines) Corp (formerly known as "Magna Ikya Infotech Inc") @ · Quesscorp Holdings PTE. LTD @ · Ikya Business Services (Private) Limited @ · Brainhunter Systems Limited @ · Quessglobal (Malaysia) SDN.BHD @ · MFXchange Holdings Inc @ · Quess Corp Lanka (Private) Limited @ · Comtel Solutions Pte. Limited @ · Mindwire Systems Limited @ · Brainhunter Companies LLC @ · MFXchange (Ireland) Limited @ · MFXchange Inc @ · Thomas Cook (Mauritius) Holding Company Limited · Thomas Cook (Mauritius) Operations Company Limited # · Thomas Cook (Mauritius) Holidays Limited # · Thomas Cook (Mauritius) Travel Limited # (Up to 28 December 2015) · Thomas Cook Lanka (Private) Limited · Luxe Asia Private Limited (w.e.f 1 August 2015) · TC Tours Limited (Formerly Known as Thomas Cook Tours Limited) · SOTC Travel Pvt Ltd (Formerly known as SITA Travels Private Limited) @@ · Jardin Travel Solutions Limited (w.e.f 1 September 2015) · Borderless Travel Services Limited (w.e.f 25 August 2015) ·
Indian Horizon Marketing Services Limited
(Formerly Known as "Indian Horizon
Travel & Tours Limited") @ These Companies are subsidiaries of Quess Corp Limited and step
down subsidiaries of Thomas Cook (India) Limited @@ These Companies are subsidiaries of SOTC Travel Services Private Limited and step down subsidiaries of Thomas Cook (India) Limited ## These Companies are subsidiaries of Sterling
Holiday Resorts Limited and step down subsidiaries of Thomas Cook (India)
Limited # These Companies are subsidiaries of
Thomas Cook (Mauritius) Holding Company Limited and step down subsidiaries of
Thomas Cook (India) Limited * These Companies are subsidiaries of Travel Corporation (India)
Limited and step down subsidiaries of Thomas Cook (India) Limited |
|
|
|
|
Fellow
subsidiaries: |
HWIC Asia Fund |
|
|
|
|
Holding Company: |
Fairbridge Capital (Mauritius) Limited |
|
|
|
|
Ultimate Holding Company: |
Fairfax Financial Holdings Limited |
|
|
|
|
Sole
proprietorship firm (Quess Group): |
· Styracorp Management Services (Sole proprietorship firm) · IME Consultancy (sole proprietorship) |
|
|
|
|
Associate Company: |
· Simpliance Technologies Private Limited ^ · Terrier Security Services (India) Private Limited ^ · Himmer Industrial Services (M) Sdn. Bhd. ^ ^ These Companies are Associate Companies of Quess Corp Limited |
CAPITAL STRUCTURE
AS ON: 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13350.0 (In Lacs) |
Equity Shares |
INR 1/- each |
INR 1335.000 Million |
|
2500.0 (In Lacs) |
Preference Shares |
INR 10/- each |
INR 2500.000 Million |
|
|
Total |
|
INR 3835.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3667.6 (In Lacs) |
Equity Shares |
INR 1/- each |
INR 366.760 Million |
|
|
|
|
|
Terms and rights attached to Equity Shares and
Preference Shares
a) The Company has one class of equity shares having a par value of INR 1/- per share. Each shareholder is eligible for one vote per share held. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution
to preference shareholders of all preferential amounts, in proportion to their shareholding.
b) CCPS:- 6250000 CCPS of INR 10/- each were allotted on 13 March 2014 to Fair-bridge Capital (Mauritius) Limited at a price of INR 800/- each which includes a premium of INR 790/- per share in order to partly fund the investment made by Thomas Cook Insurance Services (India) Limited in Sterling Holiday Resorts (India) Limited. The CCPS was entitled to a dividend of 0.001% per annum. On March 9, 2015, out of total 6,250,000 CCPS, 1,827,000 of INR 10/- each were converted into 18,270,000 equity shares of INR 1/- each. On 8 September 2015, remaining 4,423,000 CCPS of INR 10/- each were converted in 44,230,000 equity shares of INR 1/- each.
Shares reserved for issue under options
Information relating to Thomas Cook India Limited’s Employee Option Plan, including details of options issued, exercised and lapsed during the financial year and options outstanding at the end of the reporting period, is set out in Note 33.
Shares of the company held by the Subsidiaries
of the ultimate holding company
|
Particulars |
As at March 31, 2016 |
|
|
|
No. of shares (In Lacs) |
Amount (INR In Million) |
|
Equity Shares |
|
|
|
Fair-bridge Capital (Mauritius) Limited |
2481.5 |
248.150 |
Shareholding Pattern (Shareholders
holding 5% or more shares in the Company)
|
Particulars |
As at March 31, 2016 |
|
|
|
No. of shares (In Lacs) |
% of holding |
|
Equity Shares |
|
|
|
Fairbridge Capital (Mauritius) Limited |
2,481.5 |
67.66% |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
366.760 |
365.880 |
365.620 |
|
(b) Reserves & Surplus |
11230.470 |
11314.120 |
11269.200 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
1.560 |
5.980 |
2.370 |
|
Total
Shareholders’ Funds (1) + (2) |
11598.790 |
11685.980 |
11637.190 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
2607.380 |
2932.470 |
1008.880 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
58.370 |
43.000 |
21.160 |
|
(d)
long-term provisions |
10.610 |
14.000 |
100.590 |
|
Total
Non-current Liabilities (3) |
2676.360 |
2989.470 |
1130.630 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
583.260 |
210.050 |
503.010 |
|
(b)
Trade payables |
4440.770 |
5395.110 |
2284.740 |
|
(c)
Other current liabilities |
3451.690 |
2733.010 |
2899.530 |
|
(d)
Short-term provisions |
3.830 |
89.070 |
52.730 |
|
Total
Current Liabilities (4) |
8479.550 |
8427.240 |
5740.010 |
|
|
|
|
|
|
TOTAL |
22754.700 |
23102.690 |
18507.830 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1670.000 |
1699.930 |
484.380 |
|
(ii)
Intangible Assets |
111.420 |
131.390 |
137.250 |
|
(iii)
Capital work-in-progress |
10.210 |
4.460 |
3.280 |
|
(iv) Intangible assets under development |
47.510 |
25.220 |
8.350 |
|
(b) Non-current
Investments |
12276.710 |
12239.490 |
10352.020 |
|
(c) Deferred tax assets
(net) |
33.270 |
33.550 |
45.100 |
|
(d) Long-term Loan
and Advances |
425.010 |
614.750 |
361.600 |
|
(e)
Other Non-current assets |
47.230 |
49.970 |
157.700 |
|
Total
Non-Current Assets |
14621.360 |
14798.760 |
11549.680 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
1250.640 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c)
Trade receivables |
2191.570 |
1893.080 |
2161.030 |
|
(d)
Cash and cash equivalents |
4465.800 |
5066.800 |
1648.110 |
|
(e)
Short-term loans and advances |
648.040 |
464.770 |
687.820 |
|
(f)
Other current assets |
827.930 |
879.280 |
1210.550 |
|
Total
Current Assets |
8133.340 |
8303.930 |
6958.150 |
|
|
|
|
|
|
TOTAL |
22754.700 |
23102.690 |
18507.830 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
17142.390 |
17235.110 |
5008.896 |
|
|
|
Other Gains (Net) |
17.170 |
7.360 |
0.000 |
|
|
|
Other Income |
228.510 |
296.520 |
126.928 |
|
|
|
TOTAL |
17388.070 |
17538.990 |
5135.824 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
12797.370 |
12882.860 |
0.000 |
|
|
|
Employees benefits expense |
1769.170 |
1796.800 |
2156.640 |
|
|
|
Advertisement expenses |
434.770 |
385.960 |
374.951 |
|
|
|
Other expenses |
1726.240 |
1783.620 |
1488.688 |
|
|
|
TOTAL |
16727.550 |
16849.240 |
4020.279 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
660.520 |
689.750 |
1115.545 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
538.620 |
442.880 |
481.506 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
121.900 |
246.870 |
634.039 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
176.230 |
173.550 |
147.829 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(54.330) |
73.320 |
486.210 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
29.260 |
19.460 |
154.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(83.590) |
53.860 |
332.114 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (INR) |
|
|
|
|
|
|
Basic |
(0.23) |
0.17 |
1.31 |
|
|
|
Diluted |
(0.23) |
0.16 |
1.10 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
|
|
|
|
|
Cash generated from operations |
200.140 |
3824.200 |
1682.061 |
|
|
|
|
|
|
Net cash inflow from operating activities |
73.880 |
3672.300 |
1488.675 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
46.66 |
40.09 |
157.48 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
7.82 |
9.10 |
2.32 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
126.66 |
152.86 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
0.36 |
0.37 |
1.76 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.49 |
0.49 |
0.36 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.28 |
0.27 |
0.13 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
0.73 |
0.72 |
0.49 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.16 |
0.16 |
0.05 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
1.23 |
1.56 |
2.32 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) * 100) |
% |
(0.49) |
0.31 |
6.63 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
(0.37) |
0.23 |
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
(0.72) |
0.46 |
2.85 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
0.96 |
0.99 |
1.21 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.96 |
0.99 |
1.21 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.51 |
0.51 |
0.63 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
8.70 |
8.59 |
4.14 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
0.96 |
0.99 |
1.21 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
STOCK
PRICES
|
Face Value |
INR 1/- |
|
|
|
|
Market Value |
INR 273/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
365.620 |
365.880 |
366.760 |
|
Reserves & Surplus |
11269.200 |
11314.120 |
11230.470 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
2.370 |
5.980 |
1.560 |
|
Net
worth |
11637.190 |
11685.980 |
11598.790 |
|
|
|
|
|
|
long-term borrowings |
1008.880 |
2932.470 |
2607.380 |
|
Short term borrowings |
503.010 |
210.050 |
583.260 |
|
Total
borrowings |
1511.890 |
3142.520 |
3190.640 |
|
Debt/Equity
ratio |
0.130 |
0.269 |
0.275 |
%20LIMITED%20-%20503547%2012-Apr-2018_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
5008.896 |
17235.110 |
17142.390 |
|
|
|
244.090 |
(0.538) |
%20LIMITED%20-%20503547%2012-Apr-2018_files/image024.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
5008.896 |
17235.110 |
17142.390 |
|
Profit/(Loss) |
332.114 |
53.860 |
(83.590) |
|
|
6.63% |
0.31% |
(0.49%) |
%20LIMITED%20-%20503547%2012-Apr-2018_files/image026.gif)
LEGAL CASE
|
CASE DETAIL Bench: Bombay |
|
Presentation Date: 14.08.2017 |
|
Lodging No.: ITXAL/2029/2017 Filing Date: 14.08.2017 |
|
Petitioner: Pr. Commissioner of income tax-1 Respondent: Thomas cook (India) Limited Petn Adv: Suresh Kumar (I2100) District: Mumbai |
|
Bench : Single Status: Pre-admission Category: Tax Appeals Last Date: 16.11.2017 Stage: For rejection (Original Side Matters) Last Coram: Registrar (OS)/Prothonatary and Sr. Master |
|
Act: Income Tax Act, 1961 Under Section: 260A |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the Annual Report |
No |
INDEX OF CHARGES
|
SNO |
SRN |
CHARGE ID |
CHARGE HOLDER NAME |
DATE OF CREATION |
DATE OF MODIFICATION |
DATE OF SATISFACTION |
AMOUNT |
ADDRESS |
|
1 |
C43343458 |
10378797 |
HOUSING
DEVELOPMENT FINANCE CORPORATION LIMITED |
14/09/2012 |
- |
03/02/2015 |
50000000.0 |
RAMON HOUSE
169BACKBAY RECLAMATIONH T PAREKH MARGMUMBAIMH400020IN |
|
2 |
C35998186 |
90288868 |
SYNDICATE BANK |
29/07/1995 |
- |
28/11/2014 |
10000000.0 |
OVERSEAS BRANCH37;
WHITES ROADMADRASTNIN |
|
3 |
C36002319 |
90288858 |
SYNDICATE BANK |
01/02/1995 |
- |
28/11/2014 |
6000000.0 |
OVERSEAS BRANCH
37; WHITES ROADMADRASTN600014IN |
|
4 |
C34166389 |
90290118 |
THE HONGKONG &
SHANGHAI BANKING CORPORATION LIMITED |
29/01/1996 |
26/12/1996 |
20/11/2014 |
310000000.0 |
30; RAJAJI
SALAIMADRASTN600001IN |
|
5 |
C34172692 |
90287404 |
THE HONGKONG &
SHANGHAI BANKING CORPORATION LIMITED |
29/01/1996 |
- |
20/11/2014 |
155000000.0 |
30; RAJAJI
SALAIMADRASTN600001IN |
|
6 |
C34164574 |
90287422 |
THE HONGKONG &
SHANGHAI BANKING CORPORATION LIMITED |
25/06/1996 |
- |
20/11/2014 |
60000000.0 |
30; RAJAJI
SALAIMADRASTN600001IN |
|
7 |
C34170118 |
90290127 |
THE HONGKONG &
SHANGHAI BANKING CORPORATION LIMITED |
25/06/1996 |
26/12/1996 |
20/11/2014 |
60000000.0 |
30; RAJAJI
SALAIMADRASTN600001IN |
|
8 |
C32700320 |
10367784 |
IL&FS
FINANCIAL SERVICES LIMITED |
12/07/2012 |
21/05/2013 |
06/11/2014 |
550000000.0 |
II & FS
FINANCIAL CENTREPLOT NO C-22 G BLOCKBANDRA KURLA COMPLEX BANDRA
EMUMBAIMH400051IN |
|
9 |
C31840366 |
90289760 |
WIPRO LTD. |
10/11/2005 |
- |
04/11/2014 |
100000000.0 |
DODDAKANNELLISARJAPUR
ROADBANGALOREKA560036IN |
|
10 |
C04383329 |
90288878 |
INDUSTRIAL CREDIT
AND INVESTMENT CORPORATION OF INDIA LIMITE |
14/02/1996 |
- |
29/04/2014 |
100000000.0 |
163 BACKBAY
RECLAMATIONBOMBAYMHIN |
UNSECURED LOANS
|
PARTICULARS |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Bank Overdrafts |
583.310 |
210.080 |
|
Less: Interest Accrued |
0.050 |
0.030 |
|
Total |
583.260 |
210.050 |
BACKGROUND
The Company is a Public Limited Company listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). The Company is engaged in diversified travel and travel related businesses, working as Travel Agent and Tour Operator. The Company is also engaged as an Authorised Foreign Exchange Dealer.
MERGER OF STERLING HOLIDAY RESORTS (INDIA)
LIMITED
The Board of Directors of the Company, Thomas Cook Insurance Services (India) Limited (“”TCISIL””) & Sterling Holiday Resorts (India) Limited (Sterling) had at their meetings held on 7 February 2014 approved a composite scheme of arrangement and amalgamation (Scheme) pursuant to which there was (i) a demerger of the resort and timeshare business from Sterling to TCISIL, and (ii) amalgamation of residual Sterling into the Company.
Pursuant to the scheme, (i) 116 equity shares of paid up value INR 1/- each of the Company were to be issued to the shareholders of Sterling for every 100 equity shares held in Sterling of paid up value of INR 10/- in consideration of the demerger of the resort and timeshare business of Sterling from Sterling to TCISIL; and (ii) 4 equity shares of the Company of paid up value of INR 1/- each were to be issued to the shareholders of Sterling for every 100 equity shares held in Sterling of paid value of INR 10/- in consideration of the amalgamation of residual Sterling into the Company.
The Hon’ble High Court of Madras sanctioned the Scheme of Sterling on 13 April 2015, while the Hon’ble High Court of Bombay sanctioned the Scheme of the Company and TCISIL on 2 July 2015. The High Court Order was fi led with the Registrar of Companies, Mumbai on 18 August 2015 and thus, the scheme is effective from 1 April 2014 (Appointed date).
After obtaining statutory approvals, the Company completed the process of allotment of 48,657,929 equity shares of Re. 1/- each to the shareholders of Sterling in pursuance of the Scheme on 3 September 2015 as per the above swap ratio.
Subsequent to Sterling’s demerger into TCISIL as per court approved scheme, TCISIL’s name has been changed to Sterling Holidays Resorts Limited (“”SHRL””) with effect from 1 September 2015.
In terms of Scheme, all the assets and liabilities of residual Sterling are transferred to and vested in the Company and recorded at their respective fair values as determined by Board of Directors of the Company.
The difference, between the fair value of net assets of residual Sterling transferred to the Company and recorded by the Company pursuant to the order of the jurisdictional High Court(s) over the face value of equity shares allotted by the Company has been debited to Goodwill Account.
Pursuant to the scheme becoming effective, net assets of residual Sterling amounting to INR 25.3 as on 1 April 2014 have been taken over and Goodwill of INR 446.3 has been recorded after giving effect to the scheme.”
OVERVIEW
Travel and tourism has now become the largest civilian industry in the world. According to statistics, one out of every ten persons worldwide is part of the travel and tourism industry.
There have been changes in lifestyle, tastes, rising household incomes, which has had a positive effect and boost to the industry. The reach of the Internet has made it more convenient for customers with greater choices at competitive rates.
International traffic is expected to expand at 10-12% in 2017 and 2018, but bilateral restrictions may preclude achieving true potential. Most of the ten largest international carriers are achieving year-round average load factors of 90% or higher, indicating constrained capacity. As per The International Air Transport Association (IATA), the global passenger traffic rose by 6.3% for 2016 compared to 2015. This strong performance was well ahead of the ten-year average annual growth of 5.5% and capacity increasing by 6.2%.
Air travel was a good news story in 2016. Connectivity increased with the establishment of more than 700 new routes. Fall in average return fares helped to make air travel even more accessible. As a result, a record 3.7 billion passengers flew to their destinations. Demand for air travel is stillxpanding. The challenge for governments is to work with the industry to meet that demand with infrastructure that can accommodate the growth, regulation that facilitates growth and taxes that don’t choke the growth.
Asia has become the epicenter of growth for business travel. The region is already the world’s largest market, accounting for more than a third of US$ 1 trillion in annual spending globally, and growth over the next few years is expected to dwarf that of other markets. By one estimate between 2014 and 2018, business travel spending in Asia is projected to grow four times as fast as in North America and more than twice as fast as in Europe.
Travel and tourism is one of the largest service industries in India. It has tremendous potential as one of its key contributors to growth of the nation. India has emerged as the world’s fastest–growing outbound market and in absolute numbers it is second only to China. The year 2016-17 was definitely a year full of action, from Brexit, to Demonetization, stringent Visa policies by certain countries etc. Despite the sluggish global economy, poor customer sentiment and a challenging geo-political environment buffeted by terrorist attacks, travel bans etc., the Indian outbound, inbound and domestic tourism markets remained resilient. Given the challenges and economic environment, the year saw a strong performance across the Company’s portfolio.
The Company has moved rapidly in strengthening the online business over the last few years which currently contributes approximately 17% of the overall Leisure Travel business - uniquely positioning it in the industry with a versatile hybrid model with a well-spread store network and a very robust online business model, both of which, acquire and service offline and online customers.
Acquiring or reaching out to customers online has also helped us in reducing their cost of acquisition, while giving customers a seamless experience across all channels, resulting in improved customer satisfaction. With an intent to building an annual property, we also introduced a mega promotional campaign called the GRAND INDIAN HOLIDAY SALE which customers could look forward to as it gave them unbeatable offers nudging them to take up a holiday. It was a 10-day sale across online and offline channels, backed by promotions across Print, Outdoor & Digital, which saw a close to 100% surge in online traffic and walk-ins at the stores during the campaign period.
EXPANDING NETWORK
E-COMMERCE
The online channel now caters to all travel needs of the discerning traveller, like International Holidays, India Holidays, Foreign Exchange, Visa, Flights, Hotels and Travel Insurance. Considering the next-gen mobile audience, Thomas Cook’s E-Business had successfully launched innovative mobile applications i.e. the Forex App & the Holiday App. Its Forex and Holiday Apps has seen over 25% month over-month growths on downloads organically. Over 20% of sales of the online channel are contributed through Mobile web & apps. The Company’s belief and endeavor has been to give its customers a seamless omni-channel experience where the customer would get the same response to his sales or service queries and to achieve the same the Company has begun its journey in investing in the right technological innovations and enhancements. This year, the Company took another leap and extended its line of “Simply” products (value for money products) to East Europe, Switzerland, France, Italy, Greece, Spain and many more destinations.
THE MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
TRAVEL AND TOURISM INDUSTRY OVERVIEW
The Travel and Tourism industry is a diversity of businesses, services, organizations and communities encompassing domestic, inbound, and outbound travel for business, leisure, MICE, visiting friends and relatives, spiritual or business leisure and hence its stakeholders include businesses, governmental agencies, educational institutions, communities, and citizens across the globe.
The contribution of the industry to each country is significant- both economic and social development; opening up business, trade and capital investment, creating jobs and an entrepreneurial workforce and protecting heritage and cultural values. Today, tourism is a major source of income for many countries, impacting the economy of both the source and host
countries.
International tourism now represents 7% of the world’s exports in goods and services and tourism has grown faster than world trade over the past four years. As a worldwide export category, tourism ranks third (after fuels and chemicals and ahead of food and automotive products). In many developing countries, tourism ranks as the first export sector.
The United Nations World Tourism Organisation’s (UNWTO) World Tourism Barometer highlighted that close to 1 billion international tourists travelled in the first 9 months of 2016. Developments in technology and infrastructure, entry of low-cost airlines, eVisas, etc. have made tourism more affordable with a rise in disposable income and brag-worthiness of travel fuelling demand. The WHO estimated that there are around half a million people on board aircraft at any given time.
There have also been changes in lifestyle, tastes, rising household incomes, which has been a positive effect and boost to the industry. Further the industry is supported by e-commerce and m-commerce of various services, which makes it easy, accessible and convenient for customers, offering them greater choice at competitive rates.
Most of the ten largest international carriers are achieving year-round average load factors of 90% or higher, indicating constrained capacity.
As per The International Air Transport Association (IATA), the global passenger traffic rose by 6.3% for 2016 compared to 2015. Air travel was a good news story in 2016. Connectivity increased with the establishment of more than 700 new routes. Fall in average return fares helped to make air travel even more accessible. As a result, a record 3.7 billion passengers flew to their destinations. While demand for air travel is still expanding, the challenge for governments is to work with the industry to meet that demand with infrastructure that can accommodate the growth, regulation that facilitates growth and taxes that don’t choke the growth.
Asia has become the epicenter of growth for business travel. The region is already the world’s largest market, accounting for more than a third of US$ 1 trillion in annual spending globally, and growth over the next few years is expected to dwarf that of other markets. By one estimate between 2014 and 2018, business travel spending in Asia is projected to grow four times as fast as in North America and more than twice as fast as in Europe
INDIAN TRAVEL, TOURISM AND FOREIGN EXCHANGE
INDUSTRY
Travel and tourism is one of the largest service industries in India and has tremendous potential as one of the key contributors to the growth of the nation. India has emerged as the world’s fastest–growing outbound market and in absolute numbers it is second only to China. India is enroute to becoming the world’s fastest growing e-commerce market with the second largest number of internet users in the world and holiday e-commerce sales are likely to grow at a phenomenal rate. Retail inflation has softened due to declining oil prices and weak domestic demand. Easing inflationary pressures strengthened the impact of reasonable liquidity conditions on market interest rates.
“Athiti Devo Bhava”, (their guest is equivalent to their god), is the ethos of Indian culture and the catch-line of the Ministry of Tourism’s Incredible India campaign. The recently released data from the ministry shows a healthy rise in foreign tourists arriving in India. Tourism is a major component of India’s foreign exchange earnings.
INFORMATION TECHNOLOGY
The Company continues to invest in IT, leveraging it as a source of competitive advantage. The Company has enhanced the technology platform to continuously augment functionalities in all channels including website, call center, branches and mobile and also strengthen delivery capabilities and technology infrastructure.
The Company’s investments in its IT infrastructure support various business applications and the internet is the primary medium to connect remote users to the business applications with necessary security. The Company is investing in capabilities that will help to reach out and engage with the customer; using mobile technology.
The company has also made investments in a new robust web site platform to harness the power of the internet and e-commerce. These capabilities will not only increase the number of customers that can be reached but also dramatically change in which the Company engages with them in a personalized manner. The Company is also leveraging the Customer Relationship Management (CRM) system to create an effective omni-channel for making customer experience more seamless.
The technology landscape is undergoing significant changes driven by rapid growth in mobility, cloud computing and big data analytics. The Company will continue to invest in innovations and ensure that its technology systems evolve in line with new trends and deliver value to its customers. Customer Booking, Sales (On Tablet) & Tour Managers (On Tablet) applications were launched to engage customers using the mobility platform.
The Company assesses its information security risk periodically based on which appropriate changes are considered to protect the Company’s information assets. The Company has instituted a process which ensures a periodic review of the policies and procedures related to information security. Changes to the information security policies and procedures of the Company are approved by the information security committee, which comprises of members drawn cross functionally from the senior management.
AWARDS AND ACCOLADES
Thomas Cook (India) Limited has been the recipient of the following prestigious awards and accolades during the financial year 2016-17:
1) The French Ambassador’s Diamond Award for Exemplary Achievements in Visa Issuance 2016
2) Condé Nast Traveller Readers’ Travel Awards 2016
3) Thomas Cook India’s Centre of Learning has received IATA accreditation as Top 10 South Asia IATA Authorized Training Centers 2016
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED
AND NINE MONTHS ENDED DECEMBER 31, 2017
(INR in Million)
|
|
Particulars |
Quarter Ended |
Nine Months Ended |
||
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
1 |
Income from
Operations |
|
|
|
|
|
|
a) Income from Operations |
3384.690 |
4478.320 |
15748.560 |
|
|
|
b) Other Income |
97.340 |
43.530 |
177.320 |
|
|
|
Total Income from
Operations (Net) |
3482.030 |
4521.850 |
15925.880 |
|
|
|
|
|
|
|
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of services |
2442.600 |
3405.400 |
12052.650 |
|
|
b) |
Employee Benefits expenses |
461.600 |
468.5200 |
1439.410 |
|
|
c) |
Finance Costs |
137.420 |
117.910 |
386.450 |
|
|
d) |
Depreciation and amortization expense |
46.860 |
47.000 |
139.960 |
|
|
e) |
Other expenses |
607.890 |
518.960 |
1736.880 |
|
|
Total Expenses |
3696.370 |
4557.790 |
15755.350 |
|
|
|
|
|
|
|
|
|
3 |
Profit /(Loss) from operations before exceptional term |
(214.340) |
(35.940) |
170.530 |
|
|
|
|
|
|
|
|
|
4 |
Exceptional items |
5355.090 |
0.000 |
5355.090 |
|
|
|
|
|
|
|
|
|
5 |
Profit /(Loss) before tax |
5140.750 |
(35.940) |
5525.620 |
|
|
|
|
|
|
|
|
|
6 |
Tax Expense |
|
|
|
|
|
|
Current tax |
989.480 |
0.810 |
1202.300 |
|
|
|
Deferred tax |
(1037.670) |
(9.040) |
(1095.220) |
|
|
|
Total tax expenses |
(48.190) |
(8.230) |
107.080 |
|
|
|
|
|
|
|
|
|
7 |
Net Profit /(Loss) for
the period |
5188.940 |
(27.710) |
5418.540 |
|
|
|
|
|
|
|
|
|
8 |
Other comprehensive income, net of income tax |
|
|
|
|
|
|
a) Items that will not be reclassified to profit or loss |
(3.160) |
(1.430) |
(6.150) |
|
|
|
b) Items that will be reclassified to profit or loss |
0.000 |
0.000 |
0.000 |
|
|
|
Total Other
comprehensive income, net of income tax |
(3.160) |
(1.430) |
(6.150) |
|
|
|
|
|
|
|
|
|
9 |
Total Other
comprehensive income for the period |
5185.780 |
(29.140) |
5412.390 |
|
|
|
|
|
|
|
|
|
10 |
Paid up equity
share capital (face value of INR 1/-
each) |
367.040 |
366.920 |
367.040 |
|
|
|
|
|
|
|
|
|
11 |
Earnings per share (before/after extraordinary items) of INR 1/- each |
|
|
|
|
|
|
Basic |
14.14 |
(0.08) |
14.77 |
|
|
|
Diluted |
13.99 |
(0.08) |
14.62 |
|
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2017 (INR
In Million) |
31.03.2016 (INR
In Million) |
|
Claims against the Company
not acknowledged as debts |
|
|
|
Demand from Bombay Electric Supply and Transport for electricity charges |
1.960 |
1.960 |
|
Disputed claims made by clients |
6.920 |
3.460 |
|
Disputed Labour law suits |
|
|
|
Disputed Income tax demands |
65.270 |
227.070 |
|
Disputed Service Tax Demands |
25.210 |
27.590 |
|
Guarantees given to Banks and others on behalf of Subsidiaries |
2801.500 |
3245.000 |
|
Disputed demand for Increase in rent raised by Brihan Mumbai Municipal Corporation |
67.180 |
63.050 |
|
(a) It is not practicable for the Company to estimate the timing of cash flows, if any, in respect of the above pending resolution of the respective proceedings. (b) The Company does not expect any reimbursement in respect of the above contingent liabilities. |
||
FIXED ASSETS:
Tangible Assets
·
Office Building
·
Leasehold Improvements
·
Furniture and Fixtures
·
Computers
·
Office Equipment
·
Vehicles
·
Computers
·
Vehicles
Intangible Assets
·
Goodwill
·
Software
WEBSITE DETAILS
PRESS RELEASE
THOMAS COOK TO ACQUIRE
FOREX, TRAVEL UNITS OF TATA CAPITAL
Tue, Sep 26 2017
Mumbai: Travel services firm Thomas Cook (India) Ltd on Monday said its board has agreed to acquire two units of Tata Capital Financial Services Ltd.
The two subsidiaries are Tata Capital Forex Ltd, which provides services related to foreign exchange, and TC Travel and Services Ltd, which provides travel services.
Established in 2007, Tata Capital is a unit of Tata Sons Ltd. Its offers consumer finance, advisory services, commercial finance, infrastructure finance, investment banking, private equity advisory and credit card distribution. The two companies together operate in 24 locations across India.
“Our acquisition of Tata Capital’s forex and travel companies serves to further strengthen the Thomas Cook India Group’s leadership position in the travel and foreign exchange sector in the country. This also gives us the opportunity to continue to serve the strong corporate portfolio of both Tata Capital Forex Ltd and TC Travel Services Ltd, which include large corporate houses as well as set of new retail customers.
“The acquisition creates clear opportunities, including a significant increase in scale and network reach, volume/buying advantages as well as technology gains, all resulting in stronger customer service and stakeholder value,” said Madhavan Menon, chairman and managing director of Thomas Cook (India) Ltd.
Thomas Cook is an integrated travel and travel-related financial services company and offers services on foreign exchange, corporate travel, leisure travel, insurance, visa and passport services and e-business. The firm set up its first office in India in 1881.
Tata Capital’s range of offerings includes consumer finance, advisory services, commercial finance, infrastructure finance, investment banking, private equity advisory and credit card distribution
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.13 |
|
UK Pound |
1 |
INR 92.52 |
|
Euro |
1 |
INR 80.59 |
INFORMATION
DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ARC |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.